Rosanne Vaccaro was accepted into a state program that buys properties in flood-prone areas and turns them into open spaces.
However, Hillsdale Mayor Max Arnowitz says the town can't afford to lose Vaccaro's annual property tax payment of nearly $7,000.
Vaccaro tells The Record newspaper the house became nearly uninhabitable after Hurricane Floyd in 1999. Vaccaro says she finds the town's response amazing.
The mayor says he's worried other homeowners in flood-prone areas in town may consider doing the same thing.